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- The European Bank for Reconstruction and Development (EBRD) will provide QNB ALAHLI in Egypt a loan worth US$50 million for promoting green investments and in promoting MSMEs
- The loan includes US$ 7.5 million of concessional finance from the Green Climate Fund
- This will be used for on-lending to households and local small and medium-sized enterprises (SMEs).
The European Bank for Reconstruction and Development (EBRD) will provide QNB ALAHLI in Egypt a loan worth US$50 million for promoting green investments and in promoting MSMEs. The loan includes US$ 7.5 million of concessional finance from the Green Climate Fund. This will be used for on-lending to households and local small and medium-sized enterprises (SMEs).
The EU will also provide a comprehensive technical assistance package of up to €6.2 million for all participating financial institutions and their clients. QNB ALAHLI is the first bank in Egypt to benefit from a loan under the GCF GEFF Regional Egypt Framework, the second Green Economy Financing Facility (GEFF II) in the country. To date, the cooperation between the EBRD and QNB ALAHLI on various projects is worth more than US$ 720 million cumulatively, and has a special focus on SMEs, women-led businesses and green financing.
QNB ALAHLI will extend the EBRD’s financing to private sub-borrowers, including individual households and SMEs, operating in the residential, agribusiness, industrial, commercial and service sectors, who are developing green, energy efficiency, water efficiency, renewable energy and resource efficiency projects. Egypt is a founding member of the EBRD
